IRVINE, Calif.--(BUSINESS WIRE)--
Aerie Pharmaceuticals, Inc. (NASDAQ:AERI), a clinical-stage
pharmaceutical company focused on the discovery, development and
commercialization of first-in-class therapies for the treatment of
glaucoma and other diseases of the eye, today announced the pricing of a
registered underwritten public offering of $75 million of shares of its
common stock at a price to the public of $29.50 per share, before
deducting underwriting discounts and commissions and other estimated
offering expenses. The offering was upsized by $25 million over the
offering amount anticipated to be sold as previously announced. This is
in addition to $50 million raised separately through the completion and
full utilization of an at-the-market (ATM) program with Cantor
Fitzgerald & Co. filed prior to market open on September 15, 2016. Total
gross proceeds raised through these offerings were $125 million. The
shares sold through the $50 million ATM program will be issued on or
about September 20, 2016, and the $75 million public offering is
expected to close on or about September 21, 2016, subject to the
satisfaction of customary closing conditions.
Cantor Fitzgerald & Co. is acting as sole bookrunner for the $75 million
public offering and sole manager for the $50 million ATM program.
Aerie intends to use the net proceeds of the offerings for general
corporate purposes, including the complete funding of RhopressaTM commercialization
costs, execution of clinical trials in Japan, commencement of
construction of a manufacturing plant in Ireland and continuation of
preclinical activity in support of its product pipeline, along with
ongoing working capital requirements.
Shelf registration statements relating to the shares are effective with
the Securities and Exchange Commission. The shares in each offering may
be offered only by means of a prospectus, including a prospectus
supplement, forming a part of each effective registration statement. A
prospectus supplement relating to the $50 million ATM program and a
preliminary prospectus supplement relating to the $75 million public
offering were filed with the Securities and Exchange Commission on
September 15, 2016. Electronic copies of the preliminary prospectus
supplement, the prospectus supplement and the accompanying prospectuses
relating to the offerings are available on the website of the Securities
and Exchange Commission at www.sec.gov.
Copies of the prospectus supplement relating to the $50 million ATM
program and of the preliminary prospectus supplement and the final
prospectus supplement relating to the $75 million public offering, when
available, and the accompanying prospectuses relating to the offerings
may be obtained by contacting Cantor Fitzgerald & Co., Attn: Capital
Markets, 499 Park Ave., 5th Floor, New York, New York 10022, or by
telephone at 212-829-7122, or by e-mail at email@example.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of Aerie, and shall not
constitute an offer, solicitation or sale of any security in any state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
About Aerie Pharmaceuticals, Inc.
Aerie is a clinical-stage pharmaceutical company focused on the
discovery, development and commercialization of first-in-class therapies
for the treatment of patients with glaucoma and other diseases of the
eye. Aerie's two lead product candidates are once-daiIy IOP-lowering
therapies with novel mechanisms of action to treat patients with
glaucoma or ocular hypertension. The NDA filing for RhopressaTM (netarsudil
ophthalmic solution) 0.02% was submitted in the third quarter of 2016.
The second product candidate, RoclatanTM (netarsudil/latanoprost
ophthalmic solution) 0.02%/0.005%, which is a fixed dose combination of
RhopressaTM and widely prescribed PGA latanoprost, currently
has two Phase 3 registration trials underway, named Mercury 1 and
Mercury 2. If these trials are successful, a RoclatanTM NDA
filing is expected to take place near year-end 2017. Aerie is also
focused on the development of additional product candidates and
technologies in ophthalmology.
This press release contains forward-looking statements for purposes of
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. We may, in some cases, use terms such as "predicts,"
"believes," "potential," "proposed," "continue," "estimates,"
"anticipates," "expects," "plans," "intends," "may," "could," "might,"
"will," "should," "exploring," "pursuing" or other words that convey
uncertainty of future events or outcomes to identify these
forward-looking statements. Forward-looking statements include
statements regarding our intentions, beliefs, projections, outlook,
analyses or current expectations concerning, among other things: the
success, timing and cost of our ongoing and anticipated preclinical
studies and clinical trials for our current product candidates,
including statements regarding the timing of initiation and completion
of the studies and trials; our expectations regarding the clinical
effectiveness of our product candidates and results of our clinical
trials; the timing of and our ability to request, obtain and maintain
U.S. Food and Drug Administration or other regulatory authority approval
of, or other action with respect to, our product candidates; our
expectations regarding the commercialization of our product candidates;
our expectations related to the offerings discussed in this press
release, including the completion, timing and size of the offerings and
the use of proceeds therefrom; the potential advantages of our product
candidates; and our plans to pursue development of our product
candidates for additional indications and other therapeutic
opportunities. By their nature, forward-looking statements involve risks
and uncertainties because they relate to events, competitive dynamics
and industry change, and depend on regulatory approvals and economic
circumstances that may or may not occur in the future or may occur on
longer or shorter timelines than anticipated. We discuss many of these
risks in greater detail under the heading "Risk Factors" in the
quarterly and annual reports that we file with the Securities and
Exchange Commission (SEC). Forward-looking statements are not guarantees
of future performance and our actual results of operations, financial
condition and liquidity, and the development of the industry in which we
operate may differ materially from the forward-looking statements
contained in this press release. Any forward-looking statements that we
make in this press release speak only as of the date of this press
release. We assume no obligation to update our forward-looking
statements whether as a result of new information, future events or
otherwise, after the date of this press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160916005146/en/
Richard Rubino, 908-947-3540
McClellan, Inc., on behalf of Aerie Pharmaceuticals
Source: Aerie Pharmaceuticals, Inc.
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